Fostering the Development of a Business Ecosystem: The Experience of the Brazilian State Investment Bank and the Local Wind Energy Sector.
The study analyses the influence of State Investment Banks (SIBs) in the development of clean energy business ecosystems. More specifically, a qualitative case study method is applied, focusing on the credit conditions used by the Brazilian Development Bank (BNDES) to foster the development of the local wind energy ecosystem. Between 2009 and 2018, BNDES was the biggest financier of clean energy generation in the world. A large portion of the funds provided by the Bank was used to implement wind farms in Brazil, leading this source of energy to increase from an insignificant installed generation capacity in the beginning of 2000’s to 18 GW in 2020, reaching around 10% of the Brazilian electricity matrix. The Bank stimulated the development of different actors in the wind energy sector by crafting conditions that coevolved over time, while positively impacting the ecosystem health. It also orchestrated some important functions and interactions between key participants, thus, assuming a central role in the ecosystem structure. Therefore, this research contributes with further understanding about the role of SIBs in the development of clean energy business ecosystems, which are crucial for the increase of these sources of power in national electricity matrices.
Faculteit der Managementwetenschappen